LAHORE, Mar 29 (APP):SAARC Chamber of Commerce and Industry former president Iftikhar Ali Malik said on Sunday that world order and multilateral system is now changing due to ongoing geopolitical tensions. In a media statement here, he said, in the wake of Middle East tension, Pakistan must diversify it's trade source to thrive in future, citing that without an agreement on reforms, countries will start abandoning the ideal of a …
Multilateral global trade system now changing: Malik
LAHORE, Mar 29 (APP):SAARC Chamber of Commerce and Industry former president Iftikhar Ali Malik said on Sunday that world order and multilateral system is now changing due to ongoing geopolitical tensions.
In a media statement here, he said, in the wake of Middle East tension, Pakistan must diversify it’s trade source to thrive in future, citing that without an agreement on reforms, countries will start abandoning the ideal of a rules-based global trade system and set their own regulations.
He said in prevailing global economic conditions, we have to carefully access the situation and formulate trade and economic policies, while protecting effectively the national interest and local trade and industry. He suggested that Pakistan must reach vital trade deals with European Union (EU), China, Britain and stakeholders.
He said, lack of transparency leads to lack of trust that breeds suspicion of unfairness and anti-competitive behaviours.
